Divly makes crypto taxes easier

Fewer than one percent of investors globally who buy cryptocurrency pay tax on theirs crypto investments, despite the fact that they are required by law. The technology company Divly makes it possible to manage the declaration of cryptocurrencies with a few clicks. The company has now raised 400,000 USD in a financing round.

HELSINKI, Finland and Stockholm, Sweden, March 6, 2023 /PRNewswire/ — Less than one percent of cryptocurrency investors may have declared their cryptocurrency to the tax authorities in 2022.

“We see a big problem with declaring crypto and is convinced that our product will make it easier. Deciding what you need to declare for each transaction can be overwhelming and time-consuming. If you are not an accountant, tax lawyer or programmer and have many transactions, you have little chance of doing this manually yourself, says Carl Gärdsell, founder of Divly.

Investors include DHS Venture Partners, Greens Ventures and YEoS Ventures. Since March 2022Divly has partnered with Coinmotion, the largest Finnish provider of virtual currency services, and Safello, the largest crypto broker in Sweden, with around 300,000 users. Divly has also started cooperation with several international players in the past year, such as BYDFi and Coingecko.

The crypto The market has had a turbulent year. Despite this, Divly continues to grow partly because they have expanded their service internationally to all Nordic countries, The Netherlands, Japanand Germany. But above all, it is the simplicity and desire to create crypto tax returns available to all investors who have driven Divly’s growth. With its recent successful funding round, Divly is poised to continue its growth and expand its reach to more investors worldwide.

The introduction of MiCA and the DAC8 proposal will result in tighter cryptocurrency regulations. As a result, governments will have increased awareness of cryptocurrencies. One of the main requirements of the new rules is that cryptocurrency exchanges with users in the EU must share their client information with the tax authorities by January 2026.

“Procedures and processes for the government to deal with tax issues will become increasingly important. Transactions on the blockchain are not anonymous, they are pseudonymous. This means that we may soon see a situation where those who have not paid taxes will have to start tracing and accounting for their transactions. I think most people want to do the right thing, but don’t know how to do it. It should be easy to do the right thing, which we make possible,” says Carl Gärdsell.

Divinely is a service that simplifies tax declarations in crypto market and was founded in June 2021 by Carl Gärdsell and Ruben Rehn. Read more about Divly here: https://divly.com/

Contact:
Youri LempersInternational Expansion Manager, Divly
***@divly.com

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SOURCE Divly